World Economic News

Mr Trichet said eurozone growth would moderate during the rest of the year

The European Central Bank (ECB) has raised its forecast for eurozone growth for this year and next

Spain still has the highest rate of unemployment in the eurozone

Unemployment in the eurozone remained at a record rate of 10% for a fifth month in a row, according to official figures.

Nearly 16… more...

There has been loud discontent over the austerity measures taken by the government

The European Commission has said that Greece has met the conditions to receive the second tranche of a 110bn-euro ($145bn

Ministers met at President Sarkozys official retreat, Fort de Bregancon

France has cut its forecast for economic growth next year following a meeting between the president and senior finance ministers.

It now thinks the economy will grow by… more...

Ministers met at President Sarkozys official retreat, Fort de Bregancon

Ministers met at President Sarkozy’s official retreat, Fort de Bregancon

It now thinks the economy will grow by 2% next year, down from the previous forecast of 2.5%… more...

Iceland’s central bank has cut its key interest rate to 7% from 8%.

A rate cut had been predicted after inflation eased and the country’s currency strengthened, although the reduction was larger than expected.

Iceland’s interest rate hit a peak of 18% in October 2008 when the country’s banking system was thrown into crisis by the global credit crunch.

The crisis led to the country’s largest… more...

A group of intellectuals and politicians has called on France to repay 17bn euros (£14bn) “extorted” from Haiti in the 19th Century.

The money, they say, would help impoverished Haiti rebuild after January’s devastating earthquake, which killed more than 250,000 people.

In 1825 France demanded 150m gold francs in compensation after Haiti gained independence in a slave revolt.

Campaigners say that demand was illegitimate and illegal… more...

Higher fuel costs helped push inflation up

Inflation in the eurozone hit a 20-month high last month, European Union data has shown.

Annual inflation in the 16-nation bloc rose to 1.7% in July, up from 1.4% in June and the highest rate since November… more...

Greeces economic troubles have sparked protests and strikes in recent months

The Greek economy shrank by a further 1.5% in the second quarter of the year, Greece’s statistics agency has said.

That adds to 0.8% decline… more...

Eurozone interest rates kept on hold by ECB

The European Central Bank (ECB) has kept eurozone interest rates on hold at 1%, as had been expected.

It is the 15th month running that rates have stayed at this record low, as the… more...